Carducci Corporation reported Net sales of $3.6 million and beginning Total assets of $0.9 million and ending Total assets of 1.3 million.The average Total asset amount is:
A)$2.3 million.
B)$2.7 million.
C)$0.25 million.
D)$0.36 million.
E)$1.1 million.

Question

Quizplus · Accepted Answer

The average total assets are calculated by taking the sum of the beginning and ending total assets and dividing by 2: (0.9 million + 1.3 million) / 2 = 1.1 million.

Carducci Corporation Reported Net Sales of $3